Portugals Prime Minister, Antonio Costa has announced that Portugal will invest 43 billion euros in public infrastructure before 2030. Projects are to include a high-speed rail link between Lisbon and second largest city, Porto.
The plan, already approved by parliament, is due to be implemented from January 1, 2021, financed with 12 billion euros from the national budget, another 12 billion from European structural funds, 3.3 billion from recovery funds and 14.2 billion from private investment, Costa said.
Investments will focus on transport and energy, the Prime Minister said, with a total of 21.7 billion euros alloted for transport projects and 13 billion euros going towards clean energy projects, focussing around hydrogen production.
The much-anticipated high-speed rail connection is projected to cost 4.5 billion euros, with another two billion euros set aside for expansion of deepwater ports in Sines, Leixoes and Lisbon.
Speaking at a news conference last week Costa said “Economic development involves an increase in the production of tradeable goods and services, giving us greater external competitiveness and increasing exports.”
Portugal’s government predicted that the country’s gross domestic product, projected to fall by 8.5% in 2020 - the worst recession in nearly a century - will bounce back with 5.4% growth in 2021.
Comments
More hair brained predictions in the absence of predictions factual comment.
I suspect that Sr Costa looks at the number of voters in the Algarve, whose population represents about 4% of the population of Portugal. Even if all of the Algarve´s voters put a cross against his name, their support would not win him the election.
https://www.youtube.com/watch?v=JlhGkWY5O5I
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I wouldn't be that foolish to believe that all politicians speak the truth, but I expect the correspondent to check out the facts before printing or commenting.
Because of covid19, most if not all economies worldwide will have reduced GDP for 2020.
5.4% in 2021 isn't growth when your GDP is projected to fall by 8.5% in 2020. Both projections are dubious anyway, in the second quarter of 2020 GDP fell by a massive 13.9%. The best Portugal managed in the last 30 years is 3.3% growth in last quarter of 1990.
How do you know when a politician is lying?
Also, a desalination plant is needed, if investment is going to continue in intensive farming or avocado tree's which require huge volumes of water to grow.
I hope Mr Costa takes into account that the Algarve region has been the forgotten region for too long, with regard to funding.
Travel/tourism - trashed.
Businesses everywhere - bust.
Unemployment - the highest in generations.
Millions of people who had savings have spent them - where is the money coming from for this miracle recovery? Forget exports as everywhere else is skint too.
Unless he counts selling off more of the family silver to China as 'growth'.
Nor the Portimão cruiser dock development... the eastern Algarve road system, the modernisation of the Algarve railway service....etc etc
One thing is certain, a rail connection from Faro airport to the Algarve railway line will not be included.